After witnessing mayhem on Monday where it lost around 1500 points, Sensex on Tuesday was seen recovering from the major loss. It gained around 366 points at the end of the day. As investors preferred to buy the shares at low prices, sensex ended the day in green at 57,858 points with a gain of 0.64 percent. Nifty gained 0.75 percent on Tuesday as it ended the day at 17,277 points.
On Monday Nifty small-cap was the worst hit with a 3.5 percent decline, which is the most since 12 April. On Tuesday Nifty Realty, Nifty IT, Nifty Consumer Durables were down around 1 percent.
Sensex on Tuesday went down around 900 points in opening trade. Other equity markets in Asia like Shanghai, Tokyo, Seoul, and Hong Kong were trading in the red.
Experts were of the opinion that Nifty witnessed recovery as it found the support of the previous rally from 16400 to 18350.
|No.||Company Name||Decline (in %)|
|4||APL Apollo Tubes||8.20|
|5||Rate Gain Travel Tech||6.56|
Maruti Suzuki’s results were the highlight of the day as amid chip shortage the carmaker posted a 48 percent fall in its profits in the third quarter. With a 553 points rise on BSE, the stock ended at 8600.60 points. If you had invested Rs 1000 a month ago in Maruti Suzuki on BSE that would have turned into Rs 1175 by now.
HDFC Bank has issued the highest number of credit cards in the third quarter. On Nifty it ended the day at 1,488.05. IndiaMART, Axis Bank, Deepak Nitrite, Quick Heal, Ramco Cements, and Apollo Tricoat Tubes were some of the winners on NSE.
The US Federal Reserve’s much-awaited meeting is scheduled on 25-26 and factoring the Republic day holiday on Wednesday major movement is expected on Thursday as the US Market will see a total of two days worth of Wall Street action after the Federal Open Market Committee(FOMC).